Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. You could sustain a loss of some or all of your initial investment and should not invest money that you cannot afford to lose. CFDs are complex instruments. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

EUR/USD, GBP/USD and AUD/USD uptrend halted by major resistance

EUR/USD, GBP/USD and AUD/USD rally into major resistance zones, with a break higher required to bring bullish continuation signals.

EUR/USD rally takes pair into major resistance zone

EUR/USD has been on the rise of late, with the pair moving into a major long-term descending trendline.

The uptrend still remains intact unless we see a break back below the $1.1696 level, yet this is clearly a consolidation zone that we must exit from to bring a more confident trending market once more. As such, watch for a break through $1.1909 or $1.1696 to signal the next move from here. Given the current uptrend, a break through $1.1909 looks likely.

GBP/USD looks to break through key resistance

GBP/USD has been slowing down in its ascent as it engages with a confluence of both long-term trendline and horizontal resistance ($13170).

With that in mind, a break through this area of resistance would give a bullish continuation signal, while a drop through $1.2981 would bring a bearish outlook for the pair.

AUD/USD continues its ascent as price hits 17-month high

AUD/USD continued its ascent, with the pair tentatively reaching a fresh 17-month high this week.

Yesterday’s gains sought to continue that move, yet overnight weakness hindered the hopes of an imminent breakout. As such, watch for a break through the $0.7243 level to bring about a fresh bullish signal for the pair. Ultimately, the uptrend remains intact until we see a break through the $0.7076 support level.

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